{"data":{"id":"us-sc/s.c.-code-ann.-36-4a-105","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 36-4A-105","heading":"Other definitions.","body":"(a) In this chapter:\n(1) \"Authorized account\" means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account.\n(2) \"Bank\" means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company. A branch or separate office of a bank is a separate bank for purposes of this chapter.\n(3) \"Customer\" means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.\n(4) \"Funds-transfer business day\" of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.\n(5) \"Funds-transfer system\" means a wire transfer network, automated clearing house, or other communication system of a clearing house or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.\n(6) [Reserved].\n(7) \"Prove\" with respect to a fact means to meet the burden of establishing the fact (Section 36-1-201(b)(8)).\n(b) Other definitions applying to this chapter and the sections in which they appear are:\n\"Acceptance\"\tSection 36-4A-209\n\"Beneficiary\"\tSection 36-4A-103\n\"Beneficiary's bank\"\tSection 36-4A-103\n\"Executed\"\tSection 36-4A-301\n\"Execution date\"\tSection 36-4A-301\n\"Funds transfer\"\tSection 36-4A-104\n\"Funds-transfer system rule\"\tSection 36-4A-501\n\"Intermediary bank\"\tSection 36-4A-104\n\"Originator\"\tSection 36-4A-104\n\"Originator's bank\"\tSection 36-4A-104\n\"Payment by beneficiary's bank to beneficiary\"\tSection 36-4A-405\n\"Payment by originator to beneficiary\"\tSection 36-4A-406\n\"Payment by sender to receiving bank\"\tSection 36-4A-403\n\"Payment date\"\tSection 36-4A-401\n\"Payment order\"\tSection 36-4A-103\n\"Receiving bank\"\tSection 36-4A-103\n\"Security procedure\"\tSection 36-4A-201\n\"Sender\"\tSection 36-4A-103\n(c) The following definitions in Chapter 4 apply to this chapter:\n\"Clearing house\"\tSection 36-4-104\n\"Item\"\tSection 36-4-104\n\"Suspends payments\"\tSection 36-4-104\n(d) In addition, Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter.","path":["Title 36 - COMMERCIAL CODE","CHAPTER 4A Commercial Code—Funds Transfers","Part 1 Subject Matter and Definitions"],"source_url":"https://www.scstatehouse.gov/code/t36c004A.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:08:24Z","sha256":"36e15e6760196e56655f5d9954f077ddc41b6b891e500aefa6496de91e7c996e","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-36-4a-104","next":"us-sc/s.c.-code-ann.-36-4a-106"},"notice":"GroundRules: Original legal text. Not legal advice."}